E. Ohman J or Asset Management AB Has $2.93 Million Stake in U.S. Bancorp (NYSE:USB)

E. Ohman J or Asset Management AB lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 208.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,500 shares of the financial services provider's stock after purchasing an additional 47,000 shares during the period. E. Ohman J or Asset Management AB's holdings in U.S. Bancorp were worth $2,934,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of USB. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 2.5%

Shares of NYSE:USB opened at $44.76 on Friday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company's fifty day simple moving average is $41.15 and its 200 day simple moving average is $45.40. The firm has a market cap of $69.74 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period last year, the business posted $0.78 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp's payout ratio is currently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

USB has been the topic of several analyst reports. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Bank of America cut their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday. Oppenheimer increased their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.67.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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